Revenues of the world's largest arms-producing and military services companies 2023

In 2023, Lockheed Martin was the world's largest arms-producing and military services company, with arms sales amounting to over 60 billion U.S. dollars. Arms sales constituted 90 percent of total company sales in that year. RTX and Boeing followed on the places behind. Except for three European companies and one Russian, all the largest arms dealers in the world were either based in the Untied States or China.

Worsening security landscape drives global military spending

With the Russian invasion of Ukraine, the Israel-Hamas war in Gaza, and rising tensions between China and the United States, particularly concerning the status of Taiwan, global military spending reached new records in 2023. Whereas global military spending remained stable during the 2010s, it has increased annually the last years. 

Leading military spenders

The United States is, by far, the largest military spender in the world, spending three times as much as China in second. In terms of share of the gross domestic product (GDP), Ukraine is the leading military spender, which must be seen in light of its war with Russia.